Amazon (AMZN) Makes Wall St. Cry

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For Amazon (AMZN) the performance can never be good enough. The firm posted a net sales increased 37% to $4.13 billion in the first quarter. Net income increased 30% to $143 million in the first quarter, or $0.34 per diluted share, compared with net income of $111 million, or $0.26 per diluted share, in first quarter 2007.

North America segment sales, representing the companys U.S. and Canadian sites, were $2.13 billion, up 31% from first quarter 2007. International segment sales, representing the companys U.K., German, Japanese, French and Chinese sites, were $2.01 billion, up 44% from first quarter 2007.

Second quarter guidance seemed adequate. Net sales are expected to be between $3.875 billion and $4.075 billion, or to grow between 34% and 41% compared with second quarter 2007.

It seemed like a good quarter. But, shares traded down 2.5%.

Douglas A. McIntyre